Kmart has a lack of clear positioning. Walmart promises the
lowest prices, no matter what. Target promises "cheap chic" and a better
customer experience as an alternative. Kmart's promise?
Nobody knows — it no longer has any meaning. Customers aren't
excited to go to Kmart.

Its acquisition spree from 20 years ago is still hurting
it. Back in the 1980s and 1990s. Kmart bought up a bunch of
chains like Waldenbooks, Borders and OfficeMax. After that, Kmart lost
focus, and allowed Walmart to steamroll it.

Its stores are dated, and haven't gotten the upgrades or
revamped designs that it needs to compete.

At this point, something drastic has to be done to save Kmart —
simple cost-cutting isn't nearly enough. There's no place in the
world for the brand as it is.